Aid for Trade (AfT) is one of programmes guiding foreign aid for developing countries. AfT programme has helped in the establishment of supply-side and trade-related infrastructure in developing countries to enhance their trade performance.

Canada will set up a new financing institute in Montreal to help co-ordinate private sector investments in developing countries.Prime Minister Justin Trudeau and International Development Minister Marie-Claude Bibeau made the announcement during a press conference in Montreal on Friday. The Development Finance Institute (DFI) will facilitate partnerships between small and medium companies in the private sector in order to leverage investment in developing countries, particularly in sustainable development and poverty reduction.

In ways big and small, life without access to financial services is more difficult, expensive and dangerous. It constrains a woman’s ability to plan for her family’s future. At the community level, it traps households in cycles of poverty. More broadly, it limits the economic growth potential of developing countries.

President Mahinda Rajapaksa said he welcomes the initiative taken by the BRICS leaders to set up a new international development bank.  The President said in a twitter message the new bank will be a helping hand to developing nations.

The U.S. Environmental Protection Agency (EPA) announced funding for six universities to research cleaner technologies and fuels for cooking, lighting and heating homes with the goal of improving air quality and protecting the health of people across the developing world. “Health and environmental impacts of air pollution and climate expand beyond the borders of any one country,” said EPA Administrator Gina McCarthy.